How "Stable" Really Are Stablecoins?
Over the past month, some major stablecoins completely lost their peg with the U.S. Dollar, raising concerns amongst investors about their safety. Stablecoins are designed to always remain tied one-to-one to the U.S. Dollar, marketing them as relatively safe assets in an otherwise highly volatile cryptocurrency market. However, a number of prominent stablecoins have fallen like dominoes, either due to failures in their algorithmic mechanism or simply not having the sufficient reserves to maintain its peg.
Two prominent coins, TerraUSD and Tether (USDT), sparked a meltdown in the cryptocurrency markets last month after both coins slipped away from their Dollar peg. The former saw its value collapse to zero over the course of a few days, while the latter dropped below parity.
Transparency is Lacking, Even in Crypto’s Safe Space
With mounting negative press around transparency in the crypto markets, MultiBank.io finds it necessary to report these cases and educate investors on the areas of poor industry practice. Stablecoins were once considered the safe-haven assets of crypto, but the paradigm around these assets is shifting. Issues around trust and transparency are also contributing to this. For example, Tether (USDT) has been widely criticized for lacking transparency over its holdings. The group was fined $41 million by the U.S. Commodity Futures Trading Commission in 2021 over misleading reports about its stated reserves.
For years, Tether assured investors and the broader cryptocurrency market that it had $1 in reserve to back every USDT token. That claim was wildly misleading, according to a statement from the Commodity Futures Trading Commission.
In contrast, security and transparency are things that MultiBank Group takes seriously. With the inbound launch of its innovative cryptocurrency exchange – MultiBank io – the group aims to change the perception of the industry, taking action to make the market a safer place for investors, both new and experienced.
The platform is designed to protect investors’ funds and provide a secure, transparent trading platform for its users. The company is adamant when it comes to providing the highest levels of security. For example, separated client accounts and the use of tier 1 banks are just some examples of the Groups commitment to client safety and security.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 86.8% | 13 | $62 788.74 | 2.94% | -3.64% | $1 236 790 659 410 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 84.4% | 20 | $2 974.36 | 2.12% | -6.95% | $357 260 337 563 |  |
|
| 3 |  USDT |
Tether predictions | 93.2% | 1 | $0.999691 | 0% | -0.05% | $110 805 726 962 |  |
|
| 4 |  BNB |
Binance Coin predictions | 88.4% | 15 | $596.23 | 1.02% | -0.25% | $87 996 329 678 |  |
|
| 5 |  SOL |
Solana predictions | 81.2% | 29 | $146.38 | 0.94% | -6.15% | $65 655 994 523 |  |
|
| 6 |  USDC |
USD Coin predictions | 96% | 1 | $1.000137 | 0.01% | 0% | $33 145 061 197 |  |
|
| 7 |  XRP |
XRP predictions | 90.4% | 14 | $0.505389 | 0.08% | -6.80% | $27 977 911 743 |  |
|
| 8 |  TON |
Toncoin predictions | 72% | 54 | $7.44 | 7.00% | 22.07% | $25 846 485 085 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 81.6% | 34 | $0.144782 | 2.61% | -13.65% | $20 887 849 789 |  |
|
| 10 |  ADA |
Cardano predictions | 89.2% | 17 | $0.452118 | 3.15% | -4.11% | $16 125 520 329 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 77.6% | 45 | $0.000024 | 5.59% | -7.10% | $13 973 547 876 |  |
|
| 12 |  AVAX |
Avalanche predictions | 83.2% | 33 | $33.33 | 0.17% | -12.61% | $12 715 305 042 |  |
|
| 13 |  TRX |
TRON predictions | 80.4% | 34 | $0.127058 | 0.34% | 4.37% | $11 115 064 084 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 81.2% | 34 | $0.126874 | 0.37% | 4.37% | $11 098 912 957 |  |
|
| 15 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
